2024
9
American Lifestyles Consumer Report 2024
2024-05-02T23:03:06+01:00
REP391D1E15_EEA3_4099_BA2C_766571C350A7
3695
172789
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Report
en_GB
As Americans continue to contend with inflation and the tight housing market, consumers are eager for change and the opportunity to splurge where they’re able. Lisa Dubina, Senior Culture…

American Lifestyles Consumer Report 2024

£ 3,695 (Excl.Tax)

Report Summary

This report provides an extensive analysis and review of American lifestyles in the United States. Shedding light on how Americans currently think and feel, expert analysis then uses this broader perspective to cover specific industries.

Below, we summarize the key topics covered, and offer selected insights which are available in the full report.

Topics Analyzed in this Report

  • An overview of the US today, including population trends, economic indicators and key issues currently affecting the lifestyles of Americans
  • An analysis of 16 consumer markets with spending and forecasts including sector-specific takeaways from Mintel’s category experts
  • Americans’ outlook on 2024 and major life events they anticipate for the year
  • Consumers’ current housing situation, attitudes towards their current residence and plans to move in the next few years
  • Consumers’ attitudes on their current employment, plans to job search and outlook on workers’ rights

American Lifestyles: An Overview

Change is on the horizon for the majority of US American consumers. Whether in regards to their housing situation, work life or family dynamic, more than two-thirds of consumers anticipate a major life event over the next year. In general, consumers are still feeling the day-to-day effects of inflation, but more than half are eager to splurge on a big-ticket purchase

  • American consumer trends statistics: In 2024, there are an estimated 342 million Americans with an average age of about 39 years.

American Consumer Trends and Opportunities for Marketers

Consumers eager to spend

Over half of consumers still feel the day-to-day impact of inflation which causes them to prioritize their savings. However, more than half still hope to splurge on a big ticket item, demonstrating consumers’ eagerness to spend despite continued economic uncertainty.

  • American consumer trends: 77% of US American consumers are focused on saving more this year.

Increased DIY efforts

To make their living situation more satisfactory, consumers are likely to take on DIY home improvement endeavors. Brands can help advance consumers’ DIY know-how and skill sets. Multifunctional spaces and innovative design solutions are key ways to engage consumers who feel stuck/crowded in their current home.

  • Eating trends: 47% of Millennials agree that their house feels crowded.

Purchase our American Lifestyles Consumer Report to receive a five-year forecast, consumer behavior analysis, and recommendations for market opportunities. Readers of this report may also be interested in our A Divided America Consumer Report 2023, or our range of Consumer Trends Research.

Additional Features Included with Your Purchase

  • Custom PowerPoints: Incorporate our consumer research data into your own work so you can win over your clients and stakeholders. Select insights from your report to create a custom presentation that is ready to download in minutes.
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  • Mintel’s Clients Portal: Our portal provides instant access to actionable analysis, podcasts, and trend pieces relevant to your industry that are published almost daily, as well as our annual Global Consumer Trends. You can also browse our extensive catalogue of market research reports.

Expert Insights from a Mintel Analyst

This report, written by Lisa Dubina, a leading research analyst, delivers in-depth commentary and analysis to highlight American consumer trends and add expert context to the numbers.

As Americans continue to contend with inflation and the tight housing market, consumers are eager for change and the opportunity to splurge where they’re able.

Lisa Dubina, Associate Director

Lisa Dubina
Senior Culture and Identity Analyst

Table of Contents

    • Key issues covered in this Report
  1. Executive Summary

    • America Today

      • The people
      • Graph 1: population (millions), 1950-2050*
      • Graph 2: median age of the US population, 1940-2050
      • Graph 3: annual population growth rate and projections, 2014-29
      • Graph 4: net immigration, 2012-22
      • Graph 5: life expectancy at birth, 2012-22
      • Graph 6: number of deaths in the US, 2014-22
      • Graph 7: households, by number of members, 2023
      • Graph 8: households, by number of members, 2013
      • Graph 9: households, by presence of own children, 2013-23
      • Graph 10: households with children under 18 in the households, by race and Hispanic origin, 2023
      • The economy
      • Graph 11: quarterly real GDP growth, 2020-Q1 2024*
      • Graph 12: headline CPI, shelter CPI and Zillow Rent Index, 2022-24
      • Graph 13: unemployment rate, 2019-24
      • Graph 14: consumer sentiment index, 2021-24
      • Graph 15: opinions on financial future, 2023 and 2024
    • Consumer Insights

      • Consumer fast facts
      • Outlook on 2024
      • Graph 16: major life events expected this year, 2024
      • Graph 17: expected work life changes this year, by generation, 2024
      • Graph 18: major life household events expected this year, by generation, 2024
      • Graph 19: major life events expected this year, by household income and financial status, 2024
      • Graph 20: 2024 financial plans and goals, 2024
      • Graph 21: 2024 financial plans and goals, by race and Hispanic origin, 2024
      • Graph 22: 2024 financial plans and goals, by generation, 2024
      • Graph 23: top three categories for a $500 spending spree, 2024
      • Graph 24: top three categories for $500 spending spree, by generation, 2024
      • Graph 25: top three categories for $500 spending spree, by race and Hispanic origin, 2024
      • Current housing situation
      • Graph 26: current primary residence, 2024
      • Graph 27: current primary residence, by race and Hispanic origin, and by LGBTQ+ identity, 2024
      • Graph 28: current primary residence, by generation and by parental status, 2024
      • Graph 29: outlook on current residence, by generation, by race and Hispanic origin, 2024
      • Graph 30: outlook on current residence, by select demographics, 2024
      • Graph 31: agreement – "I don't think I'll ever be able to afford owning my own house," by outlook on current residence, 2024
      • Graph 32: agreement – "I don't think I'll ever be able to afford owning my own house," by generation, by race and Hispanic origin, 2024
      • Future housing plans
      • Graph 33: plans to move in the next three years, 2024
      • Graph 34: motivations to move in the next three years, 2024
      • Graph 35: motivations to move in the next three years, by generation and current household, 2024
      • Graph 36: motivations to move in the next three years, by parental status, marital status, 2024
      • Graph 37: reasons for being not likely to move in the next three years, 2024
      • Outlook on work
      • Graph 38: sense of security in current work position – among employed consumers – by generation, 2024
      • Graph 39: happiness in current work position – among employed consumers – by generation, 2024
      • Graph 40: sense of security in current work position – among employed consumers – by select demographics, 2024
      • Graph 41: sense of security in current work position – among employed consumers – by employment status and work situation, 2024
      • Graph 42: likelihood to search for new job opportunities – among employed consumers – by generation, 2024
      • Graph 43: likelihood to look for new job opportunities – among employed consumers – by current work situation, 2024
      • Graph 44: agreement – "Changing jobs and employers is the best way to advance your career," by current work situation, 2024
      • Graph 45: agreement – "Changing jobs and employers is the best way to advance your career," by generation, 2024
      • Graph 46: agreement – "I would rather work for a company that allows remote/ hybrid work than a company that requires its employees to always work on-site," by generation, 2024
      • Graph 47: agreement – "I would rather work for a company that allows remote/hybrid work than a company that requires its employees to always work on-site," by current working status, 2024
      • Graph 48: agreement – "I would rather work for a company that allows remote/hybrid work than a company that requires its employees to always work on-site," by parental status and LGBTQ+ identity, 2024
      • Attitudes towards workers' rights
      • Graph 49: connection to workers' strikes in the past year, by generation, 2024
      • Graph 50: connection to workers' strikes in the past year, by current work status, 2024
      • Graph 51: agreement – "Organized labor unions are essential to ensuring workers are treated fairly," by generation, 2024
      • Graph 52: agreement – "Organized labor unions are essential to ensuring workers are treated fairly," by race and Hispanic origin, by area of residence, 2024
      • Graph 53: agreement – "When choosing which brands to buy, I consider if a company treats and pays their employees fairly," by race and Hispanic origin, 2024
      • Graph 54: agreement – "When choosing which brands to buy, I consider if a company treats and pays their employees fairly," by generation, 2024
    • Total Market

      • Total market overview
      • Graph 55: consumer spending, by segment ($ bn), 2023 (est)
      • Graph 56: consumer spending growth, by segment (%), 2018-23 vs 2023-28 (fore)
    • Category reviews

      • Health

        • Housing

          • Transportation

            • Personal Finance

              • Clothing & Accessories

                • Beauty & Personal Care

                  • Household Care

                    • Home & Garden

                      • In-home Food

                        • Restaurants & Eating Places

                          • Alcoholic Drinks (In Home)

                            • Alcoholic Drinks (Away From Home)

                              • Non-alcoholic Drinks

                                • Leisure & Entertainment

                                  • Technology & Communications

                                    • Vacations & Tourism

                                      • Appendix

                                        • The market

                                      About the report

                                      This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

                                      Market

                                      Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

                                      Consumer

                                      Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

                                      Brand/Company

                                      Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

                                      Data

                                      Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

                                      *databooks not available with UK B2B Industry reports.

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                                      2024 Sample Consumer Cover

                                      Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

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